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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Having been through 2 parents need of LTC, we have opted to pay for LTC insurance. It isn't nearly as good as it used to be, but better than full private pay. We don't want our kids having to shoulder the bill as we did for our parents.

NW: 7m
LTC cost/year (for now): 6K/year[/quote]

Interesting. I've wanted to do this and financial advisor told us to skip. Our net worth is higher than this, but we may now have unexpected expenses with one of our DCs over the arc of their life. [/quote]

If you have a higher net worth, it typically is NOT worth it to pay for LTC.  We have enough to generate $400-500K/year for the next 40 years and barely touch the Principal.  Kids would get $25M with that.  Figure once we need a Nursing home/advanced care we wont be traveling/living in 2 homes/having cars, so the 400-500K we expect to spend yearly will just transition to paying for care.  And it could likely be paid for in our condo or we can go to a CCRC situation.

But it's typically much better to just plan to invest and self pay.  Why?  Because LTC policies now are typically for at most 36 months and if you are higher net worth,  you can afford that care for 36 months easily, and if you invest the $5-10K/year you'd be paying for it, will most likely come out ahead.  And after 36 months, you would be spending your own money anyhow
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